Tag: Digital

Nomura’s Laser Digital Prepares To Enter Japan’s Crypto Market

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Financial services holding company Nomura Holdings is preparing to expand into Japan’s cryptocurrency market through its Switzerland-based subsidiary, Laser Digital Holdings. A Laser Digital spokesperson confirmed Friday that the unit is in pre-consultation talks with Japan’s Financial Services Agency (FSA) and intends to apply for a license to offer crypto trading services to institutional investors in the country.  However, the spokesperson told Cointelegraph that the application date remains “undetermined,” and will depend on the outcome of the discussions with the FSA.  If approved, Laser Digital would launch broker-dealer services for…

Laser Digital in talks with Japan FSA for crypto trading license

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Key Takeaways Laser Digital, Nomura’s Swiss-based subsidiary, is seeking a crypto trading license in Japan. The subsidiary is in discussions with Japan’s Financial Services Agency (FSA). Share this article Laser Digital, Nomura’s Swiss-based subsidiary, is in discussions with Japan’s Financial Services Agency for a crypto trading license, according to Bloomberg. The subsidiary aims to offer brokerage services to financial institutions and crypto firms in Japan. CEO Jez Mohideen is leading efforts to enter Japan’s institutional crypto market through the regulatory approval process. The move positions Nomura to capitalize on Japan’s…

European Central Bank Picks Providers For Possible Digital Euro Rollout

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The European Central Bank (ECB), as part of its preparation phase for a potential digital euro launch, announced framework agreements with technology providers responsible for components of the central bank digital currency (CBDC). In a Thursday notice, the ECB said it had reached agreements with seven entities — and at least one more expected to be announced — to provide services related to managing fraud and risk, a secure exchange of payment information, and software development for a possible digital euro. Among the companies were Feedzai, which uses AI to…

Sui introduces suiUSDe digital dollar token backed by digital assets with Ethena’s support

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Key Takeaways Sui has introduced suiUSDe, a synthetic dollar stablecoin, on its blockchain. suiUSDe will be backed by digital assets paired with short futures positions, instead of traditional fiat reserves. Share this article Sui, a layer 1 blockchain focused on high-performance DeFi applications, announced the upcoming launch of suiUSDe, a native synthetic dollar token backed by digital assets, in partnership with Ethena, the issuer of USDe. The upcoming suiUSDe will function as a Sui-native income-generating asset powered by Ethena’s infrastructure. Its backing mechanism combines digital assets with corresponding short futures…

FTX Trust Seeks to Claw Back $1B from Genesis Digital

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The entity responsible for handling cryptocurrency exchange FTX’s bankruptcy filed a lawsuit seeking to recover more than $1 billion in funds sent by its former CEO, Sam “SBF” Bankman-Fried. In a Monday filing in the US Bankruptcy Court for the District of Delaware, the FTX Recovery Trust filed a complaint against crypto mining company Genesis Digital Assets (GDA), its affiliates and two of its co-founders as part of its efforts to recover $1.15 billion of “commingled and misappropriated funds.” According to the filing, the funds were directly tied to Bankman-Fried’s “fraud…

EU Finance Ministers Agree to limit Digital Euro Holdings

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Finance ministers of European Union member states agreed Friday on a pathway to set limits on how much digital euro an individual can hold, moving the bloc closer to launching a central bank digital currency. The decision was announced during a Eurogroup press conference following the Economic and Financial Affairs Council meeting in Copenhagen, Denmark, on Friday. Officials said they had reached a consensus on the “ceiling for holding limits and then ultimately on the issuance process itself for the digital euro.” One official noted during the press conference that…

Vitalik Defends Ethereum Exit Queue Amid Galaxy Digital FUD

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Ethereum co-founder Vitalik Buterin has finally addressed some concerns over the lengthening Ethereum staking exit queue, which has now grown to 45 days.  His response came after Galaxy Digital’s head of DeFi, Michael Marcantonio, called the exit queue length “troubling” on X and compared it to Solana, which only requires two days to unstake. He has since deleted the posts.  “Unclear how a network that takes 45 days to return assets can serve as a suitable candidate to power the next era of global capital markets.” Deleted post from Galaxy…

Grayscale’s Digital Large Cap Fund approved for trading with new listing standards

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Key Takeaways Grayscale Digital Large Cap Fund (GDLC) has been approved for trading with new listing standards. GDLC becomes the first multi-crypto exchange-traded product (ETP) to include Bitcoin, Ethereum, XRP, Solana, and Cardano. Share this article Grayscale Digital Large Cap Fund was approved for trading today with new generic listing standards. The fund will become the first multi-crypto asset exchange-traded product to include Bitcoin, Ethereum, XRP, Solana, and Cardano. The Grayscale team is “working expeditiously to bring the *FIRST* multi crypto asset ETP to market,” according to Peter Mintzberg. The…

Michael Saylor and Marathon Digital CEO will join Capitol Hill roundtable on national Bitcoin strategy

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Key Takeaways Industry leaders, including Michael Saylor and Fred Thiel, will attend a Capitol Hill roundtable to support the BITCOIN Act. The BITCOIN Act, reintroduced by Sen. Cynthia Lummis, proposes the US government acquire 1 million Bitcoin over five years. Share this article Strategy co-founder Michael Saylor, Marathon Digital CEO Fred Thiel, and other industry leaders will attend a Capitol Hill roundtable on Tuesday to advocate for the BITCOIN Act. The bill, reintroduced by Sen. Cynthia Lummis in March, proposes the US acquire 1 million Bitcoin over five years through…

Digital Asset Treasuries Face mNAV Collapse, Standard Chartered Warns

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The boom in digital asset treasury (DAT) companies — fueled by the success of Strategy’s Bitcoin-buying — has shone a spotlight on cryptocurrencies such as Bitcoin, Ether and Solana. However, that spotlight has dimmed in recent weeks as the market net asset values (mNAVs) of many DATs collapsed, exposing smaller firms to growing risks, Standard Chartered warned Monday. In the world of DATs, mNAV measures the ratio of a company’s enterprise value to the value of its cryptocurrency holdings. An mNAV above 1 allows a firm to issue new shares…